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How to Deal with Bookings Cancellations

When you are running a vacation rental business, your aim is to get maximum bookings for maximum profit.  Whether you focus on a high nightly rate or on high occupancy, you want a good return on your investment.  If you start to experience cancellation problems or lower booking frequency, it can be a blow to your business.  Cancellations are even tougher because not only do you lose out on the income you would have made but, depending on the timing, it may be more difficult to refill that spot.  You may now find that bookings have slowed down considerably during that time frame.  Ouch. Here are some tips to anticipate and prevent these types of booking cancellations.

 

Look at Your Cancellation Policy

 

Is it too easy for guests to book a reservation and then cancel their reservation with just a few clicks later on?  If yes, then you need to make changes to your Cancellation Policy.  We have ours set to “Strict” for a good...

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